First Abu Dhabi Bank (FAB) has received final approval from the Ministry of Human Resources and Emiratisation (MOHRE) and the Securities and Commodities Authority (SCA) to launch its FAB End of Service Benefits Funds, marking a significant step in enhancing employees’ long-term financial security in the UAE.
With the first business successfully on-boarded, the funds are now available to all private sector entities across the country. This initiative aligns with the UAE government’s Alternative End of Service Benefits (EOSB) Savings Scheme, allowing businesses to invest and improve employees’ EOSB while streamlining benefit management.
To facilitate seamless access, FAB has introduced a state-of-the-art digital platform integrated with the UAE Savings Scheme. Employers can efficiently manage contributions, while employees can track investments in real time. The platform is supported by key global partners, including Apex Group for fund administration, Aurem for technology, and Deutsche Bank (DB) Securities for custody services.
FAB offers two capital-protected investment options:
- FAB End of Service Benefit Fund with Capital Protection – investing in money market instruments for stability and liquidity.
- FAB Islamic End of Service Benefit Fund with Capital Protection – adhering to Islamic finance principles.
Additional risk-based investment options, including conventional and Shari’ah-compliant strategies, will be introduced soon. Managed by FAB Asset Management, a leading MENA investment firm, the funds leverage over two decades of expertise to support diverse financial goals.
With this initiative, FAB reinforces its commitment to workforce financial security, modernising EOSB structures in line with the UAE’s vision for a future-ready labour market.
News Source: Emirates News Agency
